DIY bailout: are you over-insured?

It’s week eight of The Takeaway’s Do It Yourself Bailout with our friend Beth Kobliner and we’re taking a good long look in the mirror at our spending habits: where we’re saving, if we’re saving enough and whether we can do more to bail ourselves out of the financial mess that many of us are in. This week’s question to ask yourself: are you spending too much on insurance? Or not enough?

Kobliner says in the world of insurance there are two types of people: overloaders (people who want to insure themselves for everything) and underloaders (those who insure very little, effectively betting they’ll never need the coverage). She says the trick is to know for sure that you’re in the middle.